Why Do I Need to Get New Board Members?
If this thought has ever crossed your mind, congratulations. If not, it should. The business world changes at an ever increasing rate and for your company to thrive in this environment it needs oversight and governance which should be regularly examined as…
Is Your Board of Directors / Advisors More Ceremonial, Liberated or Progressive?
Boards around the world have evolved greatly over the centuries. There are even Personal Board of Directors. Some non-profits have a board of over 50 people and other private companies have three board members. No matter the size of the…
5 Steps to Improve Your Board of Directors / Advisors Performance
The company is always under strategic review by the Board to improve their performance. The Board is almost never given the same challenge and it may be time for the board assessment.
The five steps include:
By-law review The corporate by-laws for…
Tips for Hiring a Non-Family CEO By a Board of Directors
The first non-family member CEO for a multigenerational company is a very big step for both the board and the family owners.
When this occurs the board needs to take their fiduciary responsibilities up another level to make sure the shareholders…
Seven Attributes For Hiring the (almost) Perfect Board Member
As you know there are no “perfect” people in the world so we focus on “almost perfect”. When you hire a new board member, knowing what to look for is critical to getting the highest value from this individual. The value…
Benefits of Conducting a National (International) Search for a New Board Member
Look around your board room at the next meeting and think about where your board members are located. If they all live within 50 or 100 miles from you business you are most like missing something.
Ask yourself the following questions:
Does…
Board of Advisors: Does My Company Need One?
The answer is that the company would like the inherent benefits of having a board but maybe not a board of directors. With a board of directors comes more scrutiny and oversight—and potentially more of a fiduciary responsibilities. A board…
The Key to Finding a Superstar Board Member
Years ago, I was tasked with upgrading a private company’s board of directors. When I met with the Chairman of the Board, we discussed criteria for the next board member. Once that discussion was done, the Chairman said, “I want…
5 Ways a Board of Directors Can Help Companies Succeed
Every public, non-profit, and ESOP company and organization is required by law to have a board of directors. The primary reason is fiduciary responsibility. That is to say that a group of people outside of the company needs to ensure…
Starting a Board for a Multigenerational Family Business
To build a board that will help both the company and the multigenerational family members start small:
Starting a Board for a Multigenerational Family Business
Often when a private company is successful beyond the founder and the children are also involved in…